As soon as its first owner departs from the manufacturer’s delivery center, a new airplane technically becomes used (or preowned). For various reasons, however, 10 years after an aircraft’s final production date is generally considered the ­milestone separating “newer” used business aircraft from “older” ones.

When you’re evaluating the state of the used-aircraft market, you need to look at more than the percentage of the worldwide fleet that’s currently for sale. You have to investigate availability in a variety of geographical areas and model-year ranges.

It wasn’t until the end of the final quarter of last year that the used business jet market showed clear signs of direction. That’s when inventory moved noticeably lower after peaking at 2,600 in October. Just 60 days later, we were flirting with the 2,500 mark for the first time since the fall of 2008.

Reduced inventories of several models suggest that, after years of weakness, the used-jet market is finally turning around.
Though it’s too soon to start celebrating, we’re seeing more and more signs of a turnaround in the market for used jets.

Overall, jet buyers and sellers seem about evenly matched. But some models are in much greater demand than others.
Gazing through the rearview mirror at the first half of 2013, we see that, overall, the number of used jets for sale is neither rising nor contracting. Some models are a different matter, however.

It’s too early to predict overall sales for 2013, but one key indicator—the number of aircraft for sale—continues to tick lower, suggesting that a recovery is still ongoing. In fact, the number of available jets and turboprops is now at its lowest point in roughly five years.

An airplane seller who was acting as his own broker told me that he’d been abandoned at the sales altar on three recent occasions, each time because of issues with buyer financing. “Welcome to the club,” I thought.